1. Trading Fees

2. Liquidity and Derivatives (Markets)

3. Withdrawal Method

 

 

1. Trading Fees

 

  Bitmex futures trading fees are -0.01% for Limit price orders and 0.075% for Market price orders. The - in front of the Limit price order means that you will be paid back, instead of being charged a trading fee. This means that if you only trade using the Market price, you can trade without paying the trading fee.

 

 

  Binance spot transaction fee is 0.1% for both Limit price and Market price orders. Futures transaction fees are 0.02% for the Maker and 0.04% for the Taker.

 

  Binance Futures Transaction Market Price Order fees are cheaper than Bitmex. You can choose your main trading market according to your order style. If you trade using mostly the limit order, it is better to trade at BitMex(no trading fees for limit orders).

 

 

 

 

 

2. Liquidity

 

  As of July 22, 2022 Bitmex's average trading volume was approximately $400 million, while Binance was $50 billion.

 

Binance has a greater trading volume than Bitmex, which means higher liquidity. Greater liquidity leads to less slippage.

*Slippage means the difference between the order price and the actual trading price.

 

 

  Bitmex currently supports 32 markets. On the other hand, Binance supports over 1,600 products, and has more derivatives compared to Bitmex.

 

 

 

 

 

3. Withdrawal System

 

  Bitmex has an uncomfortable withdrawal system. It collectively processes the withdrawal requests once a day for approximately 1 to 2 hours.

 

If you are to miss this certain time, you will have to wait another 24 hours for withdrawal.

 

  June 22, 2022 coins other than BTC such as USDT and ETH can be withdrawn immediately, but Bitmex mostly uses only BTC to trade, which still makes it inconvenient to withdraw.